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roads as people try to get out of town. >>> plus, president obama speaks out about the use of chemical weapons in syria as his justification for a possible missile strike. this is bay area news at 7. >>> i'm heather holmes. this is bay area news at 7. it is the start of a holiday weekend. we are counting down to bay bridge history, bay area history, the grand opening of new eastern span of the bay bridge is three days away. there is a chance they could open it early. just before 5:00 tonight, we received an update from the project spokesman, who says the work is proceeding right on schedule. he says crews completed all the grinding today in both directions. they are about halfway done with paving the west bound lanes and begun striping. east bound paving is complete. >> the focus will be on switching out the lighting in the tunnels from the traditional lights that have been there to led lights. they will continue that work over the next 24 hours. they are also going to wash the inside of the tunnel. >> gordon says the main goals are eefficiency and safety. asked whether it
on the converge of military -- the major question is now being waived by president obama. >>> i will have a look at the numbers coming up for your weekend. >>> the fire in oakland adam point neighborhood started about 1:00 this afternoon, firefighters said the unit on the second and third floor were damaged. no word yet of what started the fire. >>> how neighbors said home to squader, started just before 3 a.m. on national boulevard. a neighbor says she saw homeless people in the house. although there is no official cause of what sparked the fire. >>> it is been another violent year in oakland there is been several homicides. there is only about a third of the city's homicide cases have been solved. today, family members of eight victims went to city hall and they met with the police chief and mayor's offices. >> the blood of those killed is screaming for justice, i have not been aware of any suspect in my son's case and i am here to demand action and answers. >> oakland's police saw 28% of their right side cases in 2012. the latest available number are from 2012 based on a race of 64 cases have
obama is back in washington dc tonight following a 2 day southern california visit. >> as part of a package, you could see fannie and freddie reform that protects taxpayers puts home owners on a more stable footing. >> before returning to washington, president obama visited with marines and families at camp pend will continue. >>> the white house is canceling plans to meet with putin in moscow next month. according to a white house official, president obama still plans to meet at an economic summit. >>> usher is >>> contractor was able to free the boy and was giving the child cp rwhen the paramedics arrived. step son last night died following a boating accident. >>> authorities are issuing an alert tonight for a exam the caller claims to be from the clearing house telling you you've won a prize. he asked her for more money and that's when she called ktv uchannel 2 news. we were there when he called back today. >> why are you try to go exam her for more. >> i'm not try to go exam her. clearing house says they never call, they never ask for money, but you are doing that. >> the c
.5%. >>> later tonight president obama's proposal to the home lending business and how he hopes to insulate taxpayers. >>> the fbi is focusing attention to a crew of bay area robbers. they suspect the masked criminals have hit at least five banks and as david stevenson reports the incidents are getting violent. five banks in five months. >> we definitely consider them armed, dangerous and a a menace to society. >> reporter: the latest robberies has the authorities concerned because this time one of the bank robbers was attacked. >> the bank employee was pistol whipped. >>> the fbi says from monterey to the oregon coast bank robberies are on the rise. >> reporter: agents are now warning bank customers about what to do if they're caught up in one. >> do what you're instructed to do and try and remember or recall as much as you can in terms of details about the robber or robbers. >> reporter: the fbi today also released these pictures of the so called up close bandit wanted in at least two separate san francisco robberies. the fbi says it's seen 150 robberies in its northern california divisi
back to the bay bridge toll plaza just ahead of the five-day closure. >> and president obama helped celebrate a key moment in our nation's history. his speech that echoed martin luther king junior's speech. >>> things are going to warm up. how warm will it be in your city tomorrow? i'll have the details. . >>> they came by the thousands from every corner of our country, men and women, young and old, blacks who long for freedom, and whites what can no longer accept freedom for themselves while witnessing the segregation of others. >> president obama on the mall today pay be tribute to dr. martin luther king junior and all those who marched 50 years ago. thousands participated in today's celebration, and it not only noted the progress but the ground that yet needs to be traveled. >> bells rang out at the exact hour martin luther king's dream sang out. >> president obama, the nation's first black president, standing exactly where dr. king stood reflecting on the progress and the work that remains. >> no one can match king's brilliant, but the same flame that lit the heart of all who ar
, why president obama is ready to bid farewall to mortgage lenders fannie mae and freddie mac. plus, why you should consider investing in countries that have yet to catch up to america's prosperity. and, getting ready for groupon: how one trader is hoping for the best and preparing for the worst. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's wednesday, august 7th. i'm angela miles. in today's first look: a summer stock slide. stocks fell yesterday, with the dow down 139 points. it recovered, but still closed 93 points lower. ibm was one of the biggest losers. the nasdaq dropped 27 points, the s&p slipped below 1,700, gold pushed back $19, and oil $1.13. bank of america is one to watch today. the department of justice is suing over the firm's mortgage-backed securities. first solar and ge are striking a deal. first solar will buy ge's technolotgy for making thin film panels. in exchange, ge will receive 1.75 million shares of first solar stock. the stock fell 9% last night after the solar company
, this maybe the first, coming up of the message of mi obama's, michelle obama. >>> michelle obama making an appearance in this hip hop video. she did not sing but she does speak of her anti-childhood of obesity campaign. the song everybody will be released next month to encourage healthy eating by minority children. >>> the students showed up this mercedes, right now there is about 60 of these cars in california. they're hoping to convince people to sign a petition to demonstrate an interest of buying the hydrogen car. >>> we are learning more of the 16 ocean county new jersey workers who are sharing of the million dollars powerball jackpot. >> relatives and co-workers here as a group themselves ocean 16 cl price today. >> the 16 winners is getting $3. 8 million. thank you for making ktvu your r news, i am gasia mikaelian. tonight it is being called the most dangerous building on the bay area's campus, the structure and the plant to blow it up. keep in mind tmz is up next here on tv 36. [captioning made possible by warner bros. domestic television distribution] >> today on "tmz" -- >> on
:45, a warning after our john sasaki confronts the caller. >> president obama cancels a key trip to russia. the political snub amid escalating tensions. >> you can get kt >>> new at 10:00, a political snub in washington, with potential global consequences. president obama has canceled his upcoming meeting with russia's president, sighting a number of issues, including russia's decision to grant temporary asylum to edward snowden, and the country's new anti-gay laws. heather holmes is live in the newsroom with more on this break in relations. >> reporter: frank, the cancelation is seen as a deliberate show. >> the last time we saw president obama and russia president vladimir putin together, the strained relationship between the two former cold war adversaries was clearly visible. >> there have been times where they flip back into cold war thinking, and a cold war mentality. >> reporter: president obama says the two sides have grown apart on several issues. >> we have tried to respect if there's a law breaker, or alleged law breaker in their country. we evaluate and try to work with them. t
7 >>> continuing coverage, the crieses in syria, president obama said today he is weighing limited and narrow action against the regime. he said syria has endangered the national security of the united states and has violated established norms against the use of chemical weapon. the obama administration said 1,429 people were killed in last week's chemical weapons attack, including 426 children. so far, the president has not asked congress for approval for a military strike and france is the only major foreign power to support retaliation. president obama contends there is no excuse for killing innocent people, including such large numbers of women and children. still opposition to an attack on syria is widespread both around the world and here at home. as john tells us, the president is facing a real predicament. >> reporter: an east bay physician that lived in syria as a child and visited family there as recently as five years ago. >> it's near and dear to my heart. >> reporter: the chemical weapons attack on the syrian people hit him hard. >> my heart bleeds for all of these kid
call away. >> i will certainly not hesitate to call president obama if i think we need more than we have. >> governor brown met some of the fire crews since they had been battling the battle started. >>> residents are praying the efforts of fire crews but they know that they can only do so much. >> we know what they're trying to do. what are you going to say? they're going a great job up there. it is up to the winds and stuff like that to help out. >> so far 28 structures have been destroyed and an estimated 45, 000 homes and one building is still affected. it is now ranked the largest fire in our state's his tri. history. >> the infrastructure that brings the drinking water in the bay area is within a few mile of the ash line. officials say so far it has not affected the water's purity, officials say they have a back up water supply in the reservoir that can last for several months. >>> one casualty of the rim fire -- since 1922, generations of brooklyn family have spent time at the sierra camp but as pritchett reports it is now burned to the ground. >> logs and standing that's onc
was confident president obama would make the right pick. in the wake of a debate over whether or not banks should be allowed to own physical commodities comes word that goldman sachs is being sued because of the practice. the bank owns a big chunk of the u.s. supply of aluminum. it has been accused of holding on to that supply, keeping it off the market and thereby manipulating its market price. the class- action suit labels the practice "monopolistisc" and also targets the london metals exchange, which oversees metal warehousing. the lme says that the suit is "without merit." lena khan has been reporting on this story. she says the inclusion of the lme is key: "over the last few weeks, a lot of the attention has focused on the banks - on goldman sachs, jp morgan - and what they're doing with the warehouses, but i think the fact that the lme has designed its rules in a way that enables the banks to create these kinds of queues, that's very significant." the department of justice, the sec, and the federal reserve are all investigating the practice. in today's cover story, the battle between
a look at it, and i'll certainly not hesitate to call president obama if i think we need more than we have. >> i guess it shows the whole state is doing everything they can to put it out. that's definitely reassuring. >> reporter: tonight, fire and emergency officials told the community the governor has people ready to come in to evaluate what additional resources will be needed. live in sonora, robert honda, ktvu, channel 2 news. >>> wanting to assure residents that water from the hetch hetchy is safe to drink. some ash has been detected in the water, but so far, officials say it has not affected the water's purity. they have increased the water to other reservoirs in the system. >>> let's turn now to meteorologist rosemary orozco, tracking the conditions for us. >> yes, in which case, we'll be looking at the good with the bad here. you can see, we've got storms wrapping around this ridge of high pressure and the flow around it, sending them into southern california, and eventually over areas of the fire. i want to show you the arrows here. as we get going tomorrow, that is going to
options, such as licensing blackberry 10 software or finding a partner. president obama is vacationing this week in martha's vinyard, but before taking off friday, he held a news conference and talked a bit about the process of finding the next federal reserve chairman. mr. obama says he has a range of outstanding candidates, and confirmed that janet yellen and larry summers are both in the mix. "a critical part of the job is making sure we keep inflation in check, that monetary policy is sound, that the dollar is sound. those are all critical components of the job." the news conference followed a closed-door meeting on goverment surveillence. ceos from apple and at&t were among those who attended. the president is opening an investigation into nsa surveillance programs. the former jp morgan trader known as the "london whale" may be off the hook. reports say bruno iksil is not likely to face charges related to bad trading bets that racked up more than $6 billion in losses for jp morgan chase. iksil is called the london whale because he was based in jp morgan's london office and put on
not prevent passengers from filing lawsuits against asiana. president obama hits the road next week to conjure up support for middle-class jobs. the two- day bus tour includes stops in new york and pennsylvania. the president wants congress to consider cutting the corporate tax rate.more details are expected later this week.the road trip comes before the october 1 deadline for congress to pass a bill funding the government for the next fiscal year and the deadline for raising the debt ceiling. some insurance companies will wait until 2015 to start health care reform. the law goes into effect in 2014.but the new york times reports the obama administration is delaying a portion of the law that limits how much money americans will have to spend on medical costs..the law caps out of pocket expenses at $6,350 for individuals and $12,700 for a family under a one year grace period that has been listed on this government website for quite some time now...people with cancer or chronic illness it could face another year of high medical bills.an attorney representing benefit management for fortune 500 c
. >>> the stocks topped $470 a share before closing at $459.49. this follows obama's restriction to reduce imports of apple products. >>> palo alto based auto maker will reduce -- >>> a lack of major news led to the lowest volume of trading this year. the markets were mixed at the close with the dow down a little more than 46 points. s & p500 closed down about 2- 1/2 points. >>> in news of the world six people were killed when a bomb exploded in the philippines today. the bomb went off as the city administrator was driving through the area in a bullet- proof vehicle. she was not injured. no one has claimed responsibility but a break away muslim faction. >>> and a tragedy in moscow. the boys were staying overnight at their friend's apartment above a pet shop. i appears a python snake snuck out of his enclosure, went up the ventilation pipe and that's how the snake reached the two victims. >>> a fukashima plant is facing a new challenge tonight. regulators say if the water reaches the surface it could quickly make it into surrounding areas and the sea. >>> just a day short of the first anniversary o
for this moment. president obama, the nation's first black president, spending exactly where dr. king stood, reflecting on the progress and the work that remains. >> no one can match king's brilliance, but the same flame that let the heart of all who were willing to take the first step for justice, i know that flame remains. >> jim crow had a son called james crow jr. esquire. he writes voting suppression laws, and puts it in language that looks different but the results are the same. >> reporter: standing between three presidents on one side, and the king family on another, congressman john lewis, the last surviving speaker of the '63 march, challenged the nation, as dr. king did to make good on its promise. >> unemployment, poverty, and hunger, or the new struggle for voting rights. i say to each one of you today, we must never, ever give up. >> reporter: president obama and others pointed out the original march was about jobs and justice. noting the unemployment for blacks is almost twice the national average. >> more details now about the march. the sound system was sabotaged the night
to be in good spirit. the 67-year-old should be able to return home tomorrow. >>> president obama visited phoenix today. . . the president wants to replace the two mortgage giant with a system that'll put the private sector, not the government primarily at risk for loans. . nasdaq drops 27. >>> there are new concerns of laser toys that can cause serious eye injuries. toy manufacturings use only low power laser. if the laser is pointed directly in the eye it hits the back of the eye and can cause a blind spot. . early in the news kats we reported of the amber alert where a man is on the run of a possible murder kidnapping. as robert honda reports it sets off on social media and on the streets as to how that message is delivered. >> reporter: this is the type of sound that eric is used on his phone from the first statewide amber alert for the hand set. >> my phone was buzzing so the first thing i did was to grab it and see how i can cut it off. >> reporter: amber alerts issued usually to close to where a child disappeared. you have to opt out why alert took law enforcement by surprise. >> i
house. president obama's trade, is i impacting a ban on i-pad and i- phones. they decided apple devices violate add patent by sam tongue. later today, samsung expressed the disappointed. >>> twitter announced new features to stop abuse. instead of having to report threats, users will have a one click button for instant reporting across the platform. the button is available for apple apps. and also, twitter's banned practices such as slamming an individual with messages or opening an account to harz someone. >> major league baseball, appears poised to hand down some suspensions. espn is reporting that alex rodriguez will be suspended. word of the action comes after the investigation of the performance enhancing drugs from a florida clinic. a-rod has a place in the yankees all season because of the injury. he said last night, the $275 million contract makes him a target. >> all this stuff is going on in the background and people are finding creative ways. >> and sources tell espn, the suspensions will likely last through the season. >> warnings comes after a series of recent prison breaks
- employees allegedly involved in insider trading. and the white house put out late notice president obama will hold a press conference today. on this friday morning, we find chris gersch of altimus capital good to go at cme group. good morning, chris. - good morning, angie. - a lot of interesting things happened in the market yesterday. one of them was gold. gold back above $1,300. is this a safe-haven play, or is something else going on here? - angie, it is not a safe-haven play. i believe it's about a two week trade. china came out with some great numbers, and i think it's a brilliant opportunity for copper and platinum, which rallied, to continue to rally. but, in the long-term, i think it's going to come out that the qe3 concerns are going to come back to the market, and it's going to hover around that $1,300 level. it's not a long-term, upside trade. - this is curious: investors, once again, are pulling money out of the stock market, but here we are with the s&p 500 around 1700. what would you do here? - i would definitely take some money off the market. the 1700 level has turned int
guidance on lower sales of its office supples. president obama hits the road with a bus tour to new york today. he'll be talking about "shaking up" the way students pay for college and offering ideas to make higher education more affordable for the middle class. experts on higher eduction question "how" he could reshape financial aid for college without the cooperation of congress. americans are stashing away record amounts of cash for college. parents put away an average of 5 thousand dollars in 20-12, up 58% from 2007. however, many say they are still far from their long term savings goal, as college costs continue to rise. last year, tuition at public universities rose 4.8%, to an average of more than 8 thousand dollars.to combat with costs, many parents are pushing for students to take online courses, or live at home instead of on campus. mark zuckerberg is looking to give the gift of internet to the entire planet. the head of facebook posted on his own facebook page this week, that he is teaming with corporate america to expand internet access to the world. currently 2.7 billion pe
to a scheduling conflict.his term expires in january. president obama says america's colleges need to be more accountable for the value they provide students, their families and taxpayers. but as our cover story explains---he left open precisely how that value is measured. in buffalo, new york, president obama said rising costs are making college out of reach and a disturbing national trend reflects that---student loan default rates have now climbed above 9%--the highest it's been in 17-years. "bottom line is this, we've got a crisis in college affordability and student debt." so the president proposed the following reforms: first, a federal college value rating that could be tied to federal funding. second, the president wants to better prepare students for the global economy. but some fear that may curtail long-range thinkers in favor of short-term fixers. "we will essentially just graduate people responding to market demand but not create people who can see what's around the bend." thirdly, the president wants to make more graduates eligible to repay college debt gradually. "if we move for
of house of republicans trying to over turn obama's care. >> they're trying to do something over and over but expecting the same result. trying to hurt the american people because they don't agree on something that's upheld and decided. >> estimated of 40 million americans are unensured of the medicare act. coverage will begin january 1st. >>> alameda county officials reached out to promote wellness and places that can use a boost. community meeting focused on helping people and those are uncorporated area that's south of san leandro and problems there including obesity and teens's pregnancy that's aimed at kids. >> the folks that live here, they know the community better than we do and the hot spots are and the troubled areas and for example if it is a bad intersection or they know there is certain gang activity that happened in certain part that we don't necessarily know. >> today's meeting to develop a health and wellness plan that'll become apart of the county's plan. >>> plus, what amanda knox is refusing what to do ahead of her roommate's death. >>> the >>> continuing coverage o civ
mayors thatments with the president obama -- that meant with the president. >>> today workers were preparing a stage at the lincoln memorial where dr. king smoke. tomorrow the president will deliver his own speech there. >>> up next, a story you will see only on 2. >> we have the surveillance video of a scene on this street corner, the investigation into a shooting on board a party bus and what a camera recorded passengers doing when officers arrived. >>> signs of a u.s. military >>> shots fired on board a party bus only on surveillance video captures the scene as stray bullets fly into the streets and passengers scramble for safety. this was over the weekend in san francisco. we are live in san francisco where we went through the video and talking with police about the investigation. >> reporter: this bar behind me just happened to be where the party bus pulled over as the shooting started on board. the bar here had already closed, but a surveillance camera mounted on this wall was still recording. running for their lives, shots were flying as people rushed to get off of a party
: regime change in syria 'boots on the ground" president obama is making it clear he will not negotiate on the debt limit. obama and congress "file" that includes any conditions congresses attaches to the vote. in remarks this week- treasuryi secretary jack lew told reporters--congress appropriated the money and therefore it is a congressional responsibility to now pay its bills. the u.s is expected to hit the debt limit in mid-october. the gop has talked up demanding spending reforms or cutting funding to obamacare in return for raising the country's borrowing limit. the sec wants answers soon on recent technigal trading troubles. officials at the nasdaq and the new york stock exchange have been asked to provide a timeline of last thursday's three hour trading halt on nasdaq stocks. nasdaq and nyse reuters reports that the rival exchanges have been unable to agree on that timeline and are apparently blaming each other for the glitch. sec chair mary jo white has called a meeting for septemeber 12th with the heads of both exchanges. the sec has asked both nasdaq and the new york sto
obama has, it's has only occurred on a security market. >> reporter: motorola tried it on this phone. >> just going to swipe it here. >> reporter: but for other reasons it didn't succeed. >> that's very high in technology right there. but yeah, i don't see the problem with it. i mean, as long as they have everything worked out before we get it. >> reporter: saying just because a fingerprint scanner is being tested, doesn't mean it will happen for a variety of reasons. saying the technology will have to test well, adding that it has improved in recent years. los gatos, maureen naylor, ktvu, channel 2 news. >>> a transgender teen is calling on governor brown to pass a bill that they could take part in activities based on their gender and not their sex. the legislation allows transgender students to use bathrooms they choose. he says he doesn't participate in sports programs, because it's too uncomfortable. >> i'm a boy, right, and i was put in a class of all girls in pe. so every day, going into that class, it was just kind of like, it was only me. no one understood what it was like. >
that was behind rodriguez. >>> the president, obama and his family should have adopted a rescue dog. >>> the bay area's doctors say a program designed to control patient's blood pressure is saving lives. more than 600, 000 patients took part and more than 80% of them brought their blood pressure under control. doctors say they saw a 42% dropped and a 24% declined in heart attack. >>> thank you so much for making ktvu your choice for news. our coverage continues with our 10:00 news and coming up of a bay area's family of a crash and they tell us their story. tmz is up next. [ music no mics ] >> today on "tmz" -- >> so this lebron james scandal has gotten even crazier. jay z said he wouldn't start his concert until lebron james arrived. i think it's wrong. >> the opportunity isn't presented to you, no offense. or lebron jay z james. >> a moment. >> what moment? >> you know bryan cranston, obviously. we got this picture of him at canoga park high school and he was on a club, the chemistry club. >> what loser joins the chemistry club? >> that's a crappy thing for you to say. >> wt
has been punished enough. tonight, supporters are calling on president obama to give him a pardon. >> it's immoral to release this information that allowed the american public to know about war crimes committed by our government >> reporter: about 100 people showed up for today's demonstration which was one of many held across the country, and designed to be a show of solidarity. reporting live in san francisco, patty lee, ktvu news. >>> he wants to demonstrate now the national security industry has changed how it gathers internet communications. the documents are secret u.s. court opinions from 2011 and show the ns ahead inadvertently scooped up as 56,000 e-mails in three years, e-mails that had no connection to terrorism. the director says the nsa revealed the error to the court. >>> and as a suspected car burglar is recovered tonight after being shot. the guard said he stopped on coleman road and saw someone breaking into his father's car. he tried to stop them, but he thought the suspect was drawing a weapon. the guard pulled his man and shot him. they are still trying to dete
to turn around the company are starting to pay off. >>> president obama kicked off where he unveiled a plan to rent colleges. told the state university of new york at buffalo that higher education should not be a luxury. has trip allied over the past 30 years. would include ranks for student debt. it does not require congressional approval. >>> saving city college of san francisco. political motivations were behind to revoke accredit edition next year. the based made the move and retaliation for city college support of an open access. the commission wants to eliminate remedial classes in favor of a degree focused system. the commission had no comments so far. >>> thank you for making your source for news. our coverage continues with tonight's news. stick around, t m z is next. look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only watch tv in the rooms that had a tv outlet. yeah if we wanted to watch tv someplace else, we'd have
states decides to strike it'll do so without one important ally. the white house says president obama will base his decision on america's best interest even if it means acting alone. >> what we have seen here tragically, is a preponderance of the evidence available in the public domain that the asad regimed used chemical weapons against their citizens. >>> in san francisco today dozens of protesters rallied at powell and market streets demanding that the u.s. stay out of syria. they say money spent on military action there could be better used in this country and they want the u.s. to get out of the rest of the middle east as well. >>> a federal appeals court today upheld california's law banning so called gay conversion therapy. a group of conversion therapists appealed. the law does not cover the activities of pastors and counselors who provide such therapy but are unlicensed. >>> same-sex couples who are legally married will be treated as married for federal tax purposes. treasury secretary lu says the ruling assuring legally married similar sex couples that they can move legally a
as the economy improves. president obama continues criss-crossing the country as he talks up his plan to bring jobs and growth to the middle class. today he makes stops in virginia and florida. yesterday, the president met with democrats in the house and the senate on capitol hill. house speaker john boehner also held a closed- door meeting with republicans. boenher is said to be considering refusing to fund the healthcare reform law by tying it to a potential government shutdown this fall. congress has until september 30th to vote on avoiding a government closure. investors taking a shot on stock tied to obamacare are in the money. shares of e-health soared $6 higher on word the company will get a critical government contract. the online health insurance broker landed a deal with medicaid and medicare to enroll eligilble participants under the new healthcare plan. a new report reveals 82 of the nation's 100 biggest companies stash cash offshore. among the names on the public interest research group list: apple, with $102 billion; abbott labs, with $40 billion; and oracle, with $20.9 billion i
to 4.39% from 4.31% last week, while the 15- year hit 3.43%, up from 3.39%. meanwhile, president obama is preparing for a speech on the housing market monday in arizona. momentum appears to be on the side of the housing market, with home prices up 38% since last year. but will it continue into the second half of the year? jed kolko, chief economist at trulia, is skyping with us this morning. hello jed. - good morning. - and how far into the housing recory are we? - we're more than halfway back to normal. we look at several measures of the housing recovery to see where we are today compared to the worst point during the recession, and the long-term normal level. and right now, we're a little more than halfway back, but there's still a ways to go before the housing market returns to normal. - what trends do you see forming in the second half of the year? - we've seen very big price increases over the past year. i expect we're going to see those start to slow down a bit. higher mortgage rates; more inventory coming onto the market, which is good news for buyers; and investors getting a li
in consumer confidence at the time. in a rare web event, president obama took questions from americans on the housing market. the president partnered with real estate site zillow for the q&a, and for the second day in a row, he called for scaling down fannie mae and freddie mac, which are both backed by the government. the president prefers the private market perform more mortgage activity. "a lot of the questions have had to do with how do we get fannie and freddie reformed so they are not in a situation where taxpayers are essentially subsidizing huge risks that they are taking. as part of a package, you could see fannie and freddie reform that protects taxpayers, puts them on a more stable footing." the latest earnings from mortgage giant freddie mac came close to hitting a record. the agency, which was bailed out by taxpayers following the housing crisis, had a $5 billion profit. some republicans want to wind down fannie and freddie over 5 years and close the fhfa. bank of america shares fell on a double whammy. shares tumbled more than 2% wednesday after the justice department and
should see the market move lower coming into monday. yesterday, president obama broke from his vacation to call for an end to the violence. he also cancelled the bi-annual joint military training exercise with egyptian forces. investors are pushing up the price of gold. gold futures shot up $32 dollars yesterday as an economic protection play by money managers and investors. consumer demand for the yellow metal is up 53% from last year. cnn money reports there's rush around the world with consumers buying jewelry, coins and bars of gold. most of the demand is coming from china and india. although gold rallied yesterday- gold futures are down from last year's $1,800 high giving some gold bugs a bargain. profit woes from walmart played a role in causing stocks to stumble yesterday. the retailer's sales slipped point- three-percent as consumers held back on spending. profits were up slightly last quarter, but the big box chain cut its profit-and-earnings outlook for next quarter. shares in walmart closed down nearly $2 dollars.. to $74 dollars. the housing market continues to be h
from last week. president obama hits the road this week starting in upstate new york. he'll take a bus tour through buffalo, syracuse and binghamton to discuss higher education.after new york, he hits scranton,pennsylvania. on the agenda: the importance of college education, and proposals to reduce the cost.critics say the rallies are making it harder to come to a fiscal deal with congress. the speeches come before an upcoming debate over the federal budget and the debt ceiling. boeing is said to be secretly testing a new way to build jets.the seattle times reports-- next month engineers will test advanced automation in building the soon to be launched 777x.automation could drastically reduce production time. friday-- the wall street journal reported.. boeing traced an electrical wiring problem in 3 dreamliners to a supplier.the issue was noticed during maintenance on 787's owned by japaneser airline ana holdings.a boeing official tells reporters it does not impact the jets performance. retailers are using new methods to revive sluggish back-to- school sales.the national retail feder
. president obama created the hurricane sandy rebuilding task force in december. its task, to assess what's needed to help people, businesses & the region. the report just released recommends 69 policy initiatives. the bottom line -- communities need to plan for stronger storms from climate change. the report also notes a need for new and existing infrastructure to be strengthened. after 40 years in private hands, re-max holdings, one of the largest real estate franchise businesses wants to go public.yesterday the denver- based company filed for an initial public offering of up to 100 million dollars. it's another sign of growing health and optimism in the us housing sector.the company claims its 92- thousand agents have sold more property in the us and canada than any other for 16 years straight.its shares will trade on the new york stock exchange under the symbol "rmax." the company was founded in 1973 by dave and gail liniger who remain in charge. the country's largest real estate website buys a competitor so it can compete in the new york region. zillow dot com will pay $50 million fo
interest rates. the fed will be getting everyone more attention as president obama narrows his choice for a new fed chairman. ben bernanke's term ends in january. craig boswell, fox news. >>> wall street managed to closed in positive numbers. the nasdaq added 13 points. >>> thousands of people collecting unemployment here in california are still waiting for their weekly check because of a computer glitch. many are angry and are making their feelings known at the website of the state department. the problem began last weekend when the add upgraded its computer software. about 6,000 people still have not received their check. the add hopes to fix the problem and sent out the checks next week. >>> a menlo park warehouse holds some of the backpack that is the family giving tree organization hopes to hand out this year. levin is a volunteer hoping to make sure they're stocked with supplies. >> some kids are just not as fortunate and they help them so that we help them. >> buying school supplies is not even on their list. >> reporter: the backpacks are to be distributed to 150 bay area hig
. >>> white house officials haven't released details about president obama's birthday celebrations but he did play a round of golf. he will head out to california for an appearance with jay leno. >>> some of the world's fastest dautson's kicked off the annual weiner races. this is the start of the weinersnitzel celebration. 16 dogs will advance to the final rounds which will take place on september 1st in del mar. >>> returning to our breaking news. we have just learned the >>> breaking news right now, there will not be a b.a.r.t. strike tomorrow. however it's not because b.a.r.t. and its unions were able to reach a deal it's because of what governor jerry brown did just moments ago. >> governor jerry brown released a statement, b.a.r.t.'s request that he is calling a board of inquiry that will take place in seven days which means the strike will be diverted for seven days. governor brown said he did this because it would endanger the public's health and welfare. >> we did see the gridlock the last go round. we want to get an update from deborah villalon. deborah you've been covering the nego
is reconned. >>> president obama is expected to ax questions about the recent terror alert curse an afternoon news conference tomorrow at the white house. he assured reporters today after a meeting with the greek prime minister that he would be answered all of their questions tomorrow. the news conference is scheduled for noon pacific time. the president leaves for a nine day vacation on martha's vineyard in massachusetts after that. >>> tired of those long security lines at the airport. we'll show you the new program that could help speed things up. >>> don't look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only watch tv in the rooms that had a tv outlet. yeah if we wanted to watch tv someplace else, we'd have to go to my aunt sally's. have you ever sat on a plastic covered couch? [ kids cheering ] you're missing a good game over here. those kids wouldn't have lasted one day in our shoes. [ male announcer ] add a wireless receiver. call
in -- the embassy offices, two remain open. president obama maintain that is the core of al-qaida has been decimated but that regional groups continue to create problems. >>> the closure showed the u.s. must remain vigilant. >> the effort of closing these embassies, shows that they can stop threats and they are playing in ways that is going to pose challenges to the united states for years to come. >>> senator mccain also expressed concern about a new round of violence and bloodshed in e skwrept following his trip -- bloodshed in egypt following his trip. >>> and trump has said he has not made a decision to run for president. >> it can be half a million dollars or more. >> it could be more. i would be willing to spend. >> that kind of money? >> i would spend whatever it took. >> trump admitted that if he did run, if hillary clinton ran, she would be a tough competitor to beat. >>> and the president and his family are staying on martha's vineyard until august 18th. the white house says he will have no public appearances but does receive daily briefings. >>> an unusual courtroom twist. a judge said th
as the official death toll rose to 638 with thousands more injured. president barack obama today strongly condemned the crack down by egypt government. >> new at 10:00, we are live in santa clara where people attending a kapbd lit vigil tonight say they knew some of those who were killed, marines. >> just about half an hour ago, the last few minutes we saw the final attendees leave. 150 people gathered at the intersection across from this road and they read tweets from people in egypt. we learned of two dozen people from egypt with one grieving family member speaking to us and sharing his story tonight. >> these are people like us who's lives were cut short, suddenly. >> reporter: dozens of people with their own ties of egypt held candles and wore white in a way to honor those killed. >> that is my brother-in-law. >> reporter: he says his brother-in-law, 37-year-old man is among the hundreds killed in cairo yesterday. >> we were told he was shot yesterday by someone within the field hospital. we could not get ahold of him this morning when his id went on tv and people started saying thi
of violence. >>> and president obama has ordered his national security team to assess the situation in egypt. the u.s. gives egypt $1.5 billion in aid each year. $1.3 billion of thats to go to the military. >>> the recent u.s. supreme court ruling paving the way for same-sex marriage in california added extra joy to the 38th annual san josi pride festival. entertainment on stage featured tribes to rocky horror and soul diva tina turner. along with music, food and crafts, the festival offered a mattery monial grove where couples would marry the festival continues tomorrow. >> 20 states now recognize same-sex marriage or civil unions, but when a couple splits up it's possible that they will have trouble getting a divorce if one of them moves. >> it's a state-by-state basis, and so that is why it becomes very complicated for same-sex couples, because once they do cross into another jurisdiction their status to each other can change. >> colorado resident julie yim had to wait until that state recognized her civil union before she could legally split perfect her partner. she married in massach
credibility and your influence. >> in the wake of violence last week, president obama suspended joint military assistance with cairo but has stopped short of cutting off the $1.5 million in aid. >>> egyptian americans and their supporters rallied at the united nations plaza. >> will always be in our hearts. >> reporter: protesters raised our hands in the name of rama where hundreds died. the organizers said the rally was mostly about protecting human rights in the wake of the violence. >> this is very exciting. this is beyond political affiliations. this is more about respects human rights and respecting morals. watching what's happening we had to come here and voice our concerns. >> demonstrators today also demanded that the u.s. cut off aid to egypt. >>> the partner of the reporter who revealed leaks about the nsa was grilled by authorities at london's heathrow airport. his partner david miranda was questioned for nearly nine hours today the maximum time under britain's anti terrorism law. online green wald called the detainment spottic and an an escalation on attacks on journalists. >> i c
republican and conservatives. >>> first dog bo obama has a new play mate. the white house web announces the adoption of a new dog. >>> a young whale washed ashore. why it's of special concern for this particular species. >>> live storm tracker 2, picking up thunderstorms activity right now. at 10:45, our chief meteorologist bill >>> more video tonight of the lightning that's been flashing all across the night sky in the bay area. these images were taken by a ktvu camera man in san mateo county. ahead at 10:45, our chief meteorologist bill martin will have his complete forecast and tell us how long these unusual conditions are going to stick around. >>> in marin county visitors to stinson beach were stunned and saddened by the stranding of a whale. scientists are especially concerned about this mammal's death. >> reporter: the whale was discovered stranded and struggling on this stretch of the beach in the early hours of the morning. >> we saw it breathing and sometimes a little bit moving we ran back to the house, got our parents and came back. >> reporter: beachgoers called the fire de
behind bars, and they're calling on president obama to act. >> on behalf of the san francisco chapter of veterans for peace, we reach out to our commander in chief and say bradley manning deserves a full pardon, mr. president. >> another supporter said he was gathering petitions to present to the president. the white house says any requests will be given due consideration like any other. >>> new recommendations about the nsa greaterring communications between americans unlawfully for years. the national security agency collected an estimated 56,000 emails and other electronic communications each year that were entirely domestic. the judge suggestioned the nsa violated the law against spying on americans. the nsa said the data collection was unable to separate information that only involved americans. >>> video from rebel organizations showed dozens of people sick and suffering and they do not show any obvious signs of wounds. the rebels say at least 100 people died, many of them women and children. if the use of chemical weapons is confirmed it would add pressure on the united states
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